Abstract
This paper presents a multi-period generation and transmission expansion planning in the presence of uncertainty in the strategies of market participations. Moreover, the effects of demand response and fixed series compensation allocation are considered for peak shaving and optimal utilization of transmission capacity, respectively. This may cut back the generating expansion capacity and transmission investment cost. The optimal expansion plan is achieved while modeling market functioning considering uncertainty in generator offers, and demand bids. In this model, DR preferences have integrated into ISO's market clearing process, which applied to the load aggregators according to locational marginal prices and market clearing. Shifting and curtailing demand peak, and onsite generation are considered as load reduction strategies in demand response program. However, ISO optimizes the decision submitted by generating companies and load aggregators in the presence of uncertainties. The proposed model is applied to the Garver system to show the effectiveness of DR and FSC in dynamic G&TEP.
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